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Credicorp vs iwoca
iwoca is a well-established UK fintech lender best known for its revolving Flexi-Loan, typically backed by a director's personal guarantee. Credicorp lends smaller amounts for shorter terms — to the company alone, with no personal guarantee at all. Which shape fits depends on what you need.
- 1 hour Typical decision in working hours
- Same day Funding once you accept the offer
- £50–£2,000 Advanced to UK limited companies
- 100% cap Total cost of credit, capped — never repay more than double
- No PG No personal guarantee — we lend to the company
Applications reviewed by Credicorp to date: thousands of UK companies
Figures are the published product terms, resolved from our single pricing source (/ai.md). Every application is assessed on its own merits — approval is never guaranteed.
In short
Choose Credicorp for a small, short, defined need with no personal guarantee; iwoca is a strong choice for larger amounts, longer terms and a facility you can draw down and repay repeatedly.
Side by side
| Credicorp | iwoca | |
|---|---|---|
| Product shape | A fixed amount over a fixed short term — borrow, repay, done | Typically a revolving credit facility you draw from and repay flexibly |
| Personal guarantee | None, ever — the company is the sole obligor | A director's personal guarantee is typically required for limited companies |
| Personal credit footprint | No personal credit search on any director | Directors are generally part of the assessment |
| Term | Short — days to weeks, with a definite end date | Generally months to years, suited to ongoing working capital |
| Cost visibility | Total cost shown up front and capped at the cost cap | Interest accrues on what you draw for as long as you hold it — the total depends on your usage |
| Best for | A small, urgent, one-off company need with zero personal exposure | A larger, ongoing facility a growing business dips in and out of |
When iwoca may suit you better
We would rather you borrow well than borrow from us. Consider the alternative if:
- You need a larger amount than short-term micro-credit provides
- You want a revolving facility to draw down and repay repeatedly over months or years
- You are comfortable giving a personal guarantee in exchange for that scale and flexibility
Otherwise, for a fast, capped, company-only short-term need, Credicorp is built for exactly that.
What Credicorp gives you
- £50–£500 of short-term business credit, lent to the company
- No personal guarantee and no personal credit search on any director
- Total cost of credit capped at 100% — you never repay more than double
- Decision typically within the hour, same-day funding on acceptance
- Interest only for the days you borrow — settling early costs less
Your instant cost preview
Drag to your figure — see exactly what you would repay before you apply. No credit search, no obligation.
Capped at 100% of the amount borrowed.
Illustration only, not an offer or a lending decision, and not a quote personal to you. Interest is simple (no compounding) and charged only for the days you borrow, so settling early costs less. Full terms and the single pricing source: Business Loan · /ai.md.
Common questions
- What is the biggest difference between Credicorp and iwoca?
- The personal guarantee and the shape. Credicorp lends to the company alone — no personal guarantee, no personal credit search — for a short fixed term with a capped total cost. iwoca's facilities are typically larger, longer and revolving, and typically backed by a director's personal guarantee.
- Is Credicorp cheaper than iwoca?
- Not necessarily — it depends on how much you borrow and for how long. Credicorp shows a capped total cost up front for a short fixed term; a revolving facility's cost depends on your drawdown pattern. Compare the actual total for your need using our preview, and check iwoca's current pricing on their own site — their terms are theirs to state and can change.
- Do I need a personal guarantee with Credicorp?
- No. Credicorp lends to the company — a UK limited company or LLP — as the sole obligor. There is no personal guarantee and no personal credit search on any director. The debt is the company's, not yours.
- How fast is Credicorp?
- Applications are reviewed in working hours, with a decision typically confirmed within the hour and same-day funding once you accept the offer.
Decision in minutes
Apply in minutes, get a decision typically within the hour, and have the funds the same day you accept — no personal guarantee, capped cost.
Comparisons describe the general structure of each option, not specific competitor pricing. Credicorp lends to UK limited companies and LLPs under the body-corporate exemption (Articles 60B and 60L of the FSMA (Regulated Activities) Order 2001); this is not consumer lending, and the FOS and FSCS do not apply. Short-term business credit carries a high annualised cost — borrow only what you need, for the shortest term. Full details: regulatory status and responsible lending.
Before you go — see your cost in 5 seconds
No credit search, no obligation. Borrow £50–£500, get a decision within the hour in working hours, and same-day funding once you accept. We lend to the company — no personal guarantee.
Or use the full calculator first.